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Since I couldn't find a legitimate replay of anyone interacting with the medal/bonus system, I decided to take matters into my own hands. Done on 2nd credit in 3 months late at 1AM.

R-Shark is a relatively easy game once you come to grips with the messed up ship speed. It is impossible to miss the moment you start playing, left/right movement is super fast and up/down is way off in comparison. The key for someone to survive in R-Shark without hard memo (aka me) is to learn about the C button aka the bonus button, and understanding how it affects end stage bonuses as well as end stage extends aka the only way to get extends in the game. Basically, the C button will convert any pickups/power ups to turn into bonus medal indicated by the symbol that floats upward each time this is done.

Your goal is to reach at least 100K points of end stage bonus total so that an extend is given to you, calculated by [(5000 x Bomb Stock) + (2500 x Medals collected)] at end stage. In terms of weapons, weapon 1 is hands down the best in the game, weapon 2 is ok but lacks homing missiles for any coverage and the weapon itself isn't strong enough to compensate. Weapon 3 generally just sucks because of the limited number of shots that can be made with the thing. Weapon 1 will be the only thing you squeeze the entire game, even ignoring the chance to power up a different weapon quickly and instead focusing on collecting excess power ups and speed ups as bonus items, but not bombs. You legit want to let go of C before collecting a bomb since it's value if held is twice that of a medal, but at the same time it is "safer" to turn it into a medal for guaranteed points even if you die. Getting the bomb generally outweighs safety guaranteed points in this instance though.