There is only the subject, the information transferred from that subject, to the recorder, through the process of observation (awareness).  The recorded information (naturally compressed/translated) is analyzed and then (translated) and expressed again etc.

Transmutation then can be seen as the effects of perspective (subjectivity) on a phenomenon (basically a subject).  The object/subject is entangled with the perspective, and will be seen and shown to change such states instantaneously (depending effectively on context).

This isn't so apparent with out consideration of the objective view. It is a changing of relationship.