Soak the brussels sprouts first in lightly salted water for 10-20 minutes. Cut the base or the stem ends of the brussels sprouts, pulling off any yellow outer leaves. Slice each one in half.
In a small saucepan, toast pine nuts over low heat for about 3-5 minutes or until fragrant. Set aside.
In a medium saucepan, heat olive oil, brussels sprouts and shallots over medium-low heat for 5 minutes covered or until slightly browned. Stir in salt, pepper, cranberries, red pepper, thyme.
Cover and heat an additional 5 minutes or until tender and slightly browned.
Serve as is or sprinkle with Parmesan cheese before plating.