The Hurricane Electric IPv4 Exhaustion Counter on this page has dropped below 365 days. What does this mean exactly?
At the end of that period there will be no more IPv4 address blocks to give out to the several Regional Internet Registries. But those have their own buffers so it won't be all over at that moment (and the IPv4 Internet will not stop functioning either).
What will happen is that when those buffers run out the moment will come that one of those Regional Internet Registries will have to answer "NO, not available" to a request for IPv4 space. The timeframe at which this will happen may vary between months (APNIC, Asia-Pacific region) and years (AfriNIC, Africa) given the current rates. What this will mean is a situation where IPv6 is the only working way to give new systems on the Internet working unique addresses. Will the world be ready for this moment? Probably not.