Hand-held cutting device

A hand-held device for forming an elliptical shape in a sheet of material, comprising:

• a first member adapted for placement on the sheet of material, the first member having a first pivot point that is movable along a first axis;
• a second member having a second pivot point that is movable along a second axis substantially perpendicular to the first axis;
• the first member and the second member being operably and slidably connected to each other at the first and second pivot points;
• a knob connected to one of the first and second pivot points, the knob having a size and shape that allows grasping the knob by a thumb and all fingers on one human hand such that rotation of knob about the one pivot point causes the second member to rotate and slide in an elliptical pattern with respect to the first member;
• and
• a cutting blade operably connected to the second member and adapted for contacting the sheet of material for cutting an elliptical shape therein as the knob is rotated,
• wherein the second member comprises a blade holder, the cutting blade being removably mounted to the blade holder, wherein the blade holder comprising a recess that is shaped to receive a substantial portion of the blade, a depth of the recess being at least equal to a thickness of the blade, and further comprising a fastener mounted to the blade holder, the fastener having a head portion, with the head portion of the fastener being located in the recess such that a space for the blade is formed between the head portion and bottom surface of the recess, such that the blade can be securely held between the head portion of the fastener and the bottom surface of the recess.