All power-ups:
Select the XQ49. Allow the second Boss on the third level to destroy
your ship one time. Complete the level with your next ship. Purchase
one of any of the following items at the shop: power shot, side
shooters, back shooters, auto fire, super shields, or lasers.
Everything except mega bombs and lives will filled.

Life mini-game:
Power on the Lynx and press A(2) to display the character selection
screen. Hold Option 1 and press Up, Down, Left, Right, Up.