Steinberg released Loopmash Free and updates Loopmash to V1.1 for iOS4.

“LoopMash 1.1 adds preset sharing and expansion pack support to the innovative virtual instrument. The new in-app store offers six genre-specific sound content sets ranging from rock over hip hop and funk to electro. In addition, producer and film score composer Erran Baron Cohen exclusively created a captivating collection of chill out, house and bossa nova loops to further fuel your mashing addiction.”

More info and download here: http://www.steinberg.net/en/products/apps_sounds_accessories/loopmash.html