Go to 'Cheats' in the 'Extras' screen and move the rows of symbols to form the following line to unlock the following
Unlock features: X, Triangle, Circle, Triangle, Circle.
Unlimited Weapons: Triangle, Circle, X, Circle, Square.
Unlimited Shields: Triangle, Triangle, Square, Square, Square
Unlock Retro Ships: X, Circle, Triangle, Square, X.
Unlock Animal Ships: Triangle, Circle, Circle, Triangle, X.
Unlock Fast Ships: Square, X, X, X, Triangle.
Unlock Mini Ships: Circle, Square, Square, X, Circle
Unlock Zone Challenge Mode: Complete 30% of game
Unlock Time Trial Mode: Complete 60% of game
Unlock Team Gold Challenges: Get Gold medals in the first 5 challenges
Unlock Team Super Weapon: Get any medal in the first 5 challenges
Successfully complete the following to unlock new Teams:
Tigron Team: Complete Sveta Kirovski Challenge with a Gold Medal.
Xios Team: Complete Zala Woolf Challenge with a Gold Medal.
Pirahna Team: Complete Jann Shlaudecker Challenge with a Gold Medal.
Auricom Team: Complete Franco Gonzalez Challenge with a Gold Medal.
EG-r Team: Complete Alex Reece Challenge with a Gold Medal.