"The Room" star too joined the actors onstage and reached for the mic but Franco pushed him aside, and began with his rambling acceptance speech, ironically quoting Wiseau.
But what had just transpired left many in the audience aghast and sparked angry reactions on social media.
Talking to LA Times, Wiseau opened up about what he wanted to say on the stage.
"If a lot of people loved each other, the world would be a better place to live.
"See 'The Room,' have fun, and enjoy life. The American Dream is alive, and it's real," he said.
Franco's film is based on the book, "The Disaster Artist", written by Tom Bissell and Wiseau's "The Room" co- star, Greg Sestero.
"The Room", which released in 2003, is considered to be one of the worst films ever but over the years it has acquired a cult status, with people calling it the "'Citizen Kane' of bad cinema'.
"I want to know what Tommy was going to say! He looked like he was going for it!" he said.
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