MPEG-4 Stream Converting

This is a very hard question. I almost posted it under ‘Experiments’.

I have a D-Link ip camera, that is only able to export an mpeg4 stream to the server. Is there a way to have Red5 relay this stream in a format Flash can use?

Is there some other way to convert / broadcast an mpeg4 stream? I looked at ffserver, but it appears to do something different.