The white cone is like an amplifier of the human desiree to conquer others possible realities. The stars symbolize people in his structure of constelation of Ursa Major so that they never lose the north. The symbol of the lower left side it is the A of Asgardia.
The right side image of the flag symbolize a Spaceship that furrow the infinite space... called Asgardia, The Space Nation.

PD: Sorry for my bad english ;-)