FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * BONANNO RAYMOND J   2. Issuer Name and Ticker or Trading Symbol SPICY PICKLE FRANCHISING INC [SPKL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 90 MADISON STREET, #700 3. Date of Earliest Transaction (Month/Day/Year) 12/31/2010 (Street) DENVER, CO 80206 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock               1,808,489 I Raymon J. BonAnno and Joan E. BonAnno JTWROS Common Stock               2,293,045 I The BonAnno Family Partnership, LLP

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Options

$ 0.2

(1)

01/25/2012

Common Stock

100,000

100,000

D

Warrants

$ 0.2

(2)

09/22/2014

Common Stock

90,000

90,000

I

Raymond J. BonAnno and Joan E. BonAnno JTWOS

Stock Options

$ 0.17

11/24/2008

11/24/2013

Common Stock

500,000

500,000

D

Warrants

$ 0.19

09/22/2009

09/22/2014

Common Stock

769,230

769,230

I

Raymond J. BonAnno and Joan E. BonAnno JTWROS

Convertible note due 5/1/13

$ 0.13

09/30/2009

05/01/2013

Common Stock

2,366,591

2,366,591

I

Raymond J. BonAnno and Joan E. BonAnno JTWROS

Convertible note due 5/1/13

(3)

09/30/2009

(3)

Warrants

153,828

153,828

I

Raymond J. BonAnno and Joan E. BonAnno JTWROS

Stock Options (Common Stock)

$ 0.085

12/31/2010

A

200,000

12/31/2010

12/31/2015

Common Stock

200,000

(4)

200,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
BONANNO RAYMOND J 90 MADISON STREET, #700 DENVER, CO 80206	X

Signatures

Raymond J. BonAnno		01/05/2011
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On January 25, 2007, the Reporting Person was granted an incentive stock option under the Issuer's 2006 Option Plan to purchase 100,000 shares of common stock originally at an exercise price of $0.25 per share. The options are exercisable as to (i) 50,000 shares immediately upon date of grant; (ii) 25,000 on the 1st anniversary of date of grant; and (iii) 25,000 on the 2nd anniversary of date of grant.
(2)	Acquired on December 14, 2007 in connection with a private placement financing transaction. The warrants are exercisable at any time, at the holder's election. On September 22, 2009, the exercise price was lowered to $0.20 and the expiration date was extended to September 22, 2014.
(3)	On September 30, 2009, Mr. BonAnno was issued a convertible note for $307,656.89 from the Issuer. The note is convertible at any time into shares at the rate of $0.13 per share. In addition, for every $2.00 converted, Mr. BonAnno will receive a warrant to purchase one share of common stock with the exercise price to be 120% of the average of the volume weighted average prices for the 10 trading days preceeding conversion.
(4)	On 12/31/10 the Reporting Person was granted an incentive stock option under the Issuer's 2006 Option Plan to purchase 200,000 shares of common stock at an exercise price of $0.085 per share. The options are fully vested on grant date.

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