OK, here is the basic concept... of course I realize the image quality is not very professional & needs to be cleaned up.
The central image is based on a filtered Hope Diamond - representing the hopes and dreams of all natives of Earth.
The Diamond is the symbol of Asgardia station itself; the 5-point star is to indicate that the station is manned.
The Asgardia flower symbol is to the East to symbolize the direction of the rising sun.
The Big Red Kiss in the upper corner is there to show the Space Nation endeavors to Bless all the Children of Humanity...
(in recognition of the fact that we serve the welfare and posterity of coming generations.)