ET10000 Transcoding a stream, possible?

Hi,

I was wondering if it is possible to transcode an incomming internet stream to a lower bitrate. It is a h264 stream which the box sees as a channel so it's not with 4097 but just 1. But the bitrate is to high for my phone to playback. So i was wondering if it's possible to transcoding this internet stream with ET10000 Hardware again to a lower bandwith/resolution stream...