Does applescript's 'delay' function work when the computer is asleep?

I'm trying to make an alarm clock for myself with AppleScript after my old (physical) one crapped out. I've got a script that'll schedule a *pmset* wakeup at the requisite time. There's just the matter of making the script actually make noise at that moment. To that regard, does the actionscript **delay** command count time the computer was asleep? It'd be nice to say delay (# of seconds between now and when I have to wake up the next morning) , but if **delay** doesn't count down when the computer's off (or, rather, retroactively decrement the countdown upon wake), then I'll need some other way of doing things. Does anyone know about this behavior, and any workarounds if the answer is 'it doesn't count time asleep'?